The EU signals willingness to fast-track trade talks with the US before a 50% tariff returns in July
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The EU signals willingness to fast-track trade talks with the US before a 50% tariff returns in July
President Donald Trump delayed a 50% tariff on EU goods after speaking with EU Commission President Ursula von der Leyen over the phone. Trump said he would delay the planned tariff hike on European goods by over a month, with July 9 as the new deadline. The tariffs were originally set to take effect on June 1. The EU has also approved tariffs on $23.9 billion of US goods, including soybeans, poultry, motorcycles, and other farm products. The comments from the EU came days after Trump criticized the bloc for dragging its feet and taking advantage of the US.
President Donald Trump delayed a 50% tariff on EU goods after speaking with EU Commission President Ursula von der Leyen over the phone. Jonathan Ernst/REUTERS
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The European Union said Monday that it is accelerating trade negotiations with the US in a bid to avert a costly transatlantic trade war.
“They agreed both to fast-track the trade negotiations and to stay in close contact,” Paula Pinho, a spokeswoman for the European Commission, said during a press conference a day after EU Commission President Ursula von der Leyen spoke with President Donald Trump over the phone.
“We are talking about, of course, the world’s single largest and closest trading relations, so these negotiations are complex,” Pinho added. “With this call, there’s now a new impetus for the negotiations.”
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The comments from the EU came days after Trump criticized the bloc for dragging its feet and taking advantage of the US.
Earlier last week, the US rejected a trade proposal sent by the EU Commission.
In a Friday social media post, Trump warned he would slap a 50% tariff on EU goods. He said the 27-nation bloc has been “very difficult to deal with” and that trade negotiations were “going nowhere.” The tariffs were originally set to take effect on June 1.
In response, the EU has also approved tariffs on $23.9 billion of US goods, including soybeans, poultry, motorcycles, and other farm products.
After Sunday’s call, Trump said he would delay the planned tariff hike on European goods by over a month, with July 9 as the new deadline.
“It was my privilege to do so,” Trump said of the tariff delay on Truth Social on Sunday evening.
More conversations seem to be taking place on the sidelines to de-escalate trade tensions.
On Monday, Maros Sefcovic, the EU’s chief trade negotiator, said on X that he had “good calls” with the secretary of commerce, Howard Lutnick, and ambassador Jamieson Greer. Sefcovic added that the EU was “fully committed” to reaching a trade deal by the July 9 deadline.
The White House did not immediately respond to a request for comments.
Trump tariffs live updates: EU touts ‘good calls’ with US as negotiations resume in earnest
The European Union’s lead trade negotiator stated that “good calls” were held with Trump administration officials on Monday. Trump pushed back a June 1 deadline for a “straight 50% Tariff on the European Union” to July 9. The US has reportedly been pressuring the EU to cut tariffs on American goods. The EU is reportedly readying some $108B in retaliatory tariffs if talks fail.
“The [EU] remains fully committed to constructive and focused efforts at pace towards [a trade] deal,” Maroš Šefčovič, the bloc’s commissioner for trade and economic security, added in a post on X. “We continue to stay in constant contact.”
At the same time, sticking points remain.
Earlier on Monday, the EU stated that the result of the weekend phone call between Trump and European Commission President Ursula von der Leyen provided “new impetus for the negotiations.”
On Sunday evening, two days after asserting that the bloc has been “very difficult to deal with” and declaring that discussions were “going nowhere,” Trump pushed back a June 1 deadline for a “straight 50% Tariff on the European Union” to July 9.
Talking to reporters in Morristown, New Jersey, Trump confirmed that “July 9 would be the day,” before adding that “we will rapidly get together to see if we could work something out.”
The EU, which has 27 member states, comprises the largest US trade partner. The US has reportedly been pressuring the EU to cut tariffs on American goods. The EU is reportedly readying some $108B in retaliatory tariffs if talks fail.
On Friday, Treasury Secretary Scott Bessent sought to soothe market worries by pledging that the US would announce “several” large trade deals in the coming weeks.
Here are the latest updates as the policy reverberates around the world.
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Source: https://www.businessinsider.com/eu-signals-willingness-to-fast-track-trade-talks-with-us-2025-5